French MPs advance measure to tax crypto as “unproductive wealth”
French MPs passed an amendment to tax crypto and other assets exceeding €2 million as unproductive wealth.Summary
French National Assembly lawmakers voted 163-150 to advance an amendment that expands the country's wealth tax to include certain "unproductive goods," specifically naming crypto holdings alongside items like yachts and classic cars. Filed by MP Jean-Paul Matteï, the measure aims to correct perceived inconsistencies in the current real estate wealth tax by encouraging productive investment. The new tax would apply a flat 1% rate on "unproductive wealth" exceeding a €2 million threshold, up from the current €1.3 million limit. Local crypto industry figures, such as Ledger co-founder Éric Larchevêque, criticized the move, arguing it punishes savers protecting their future and equates crypto holdings with unproductive reserves outside the fiat system. The amendment must still pass the Senate before becoming law for the 2026 budget.
(Source：Cointelegraph)